Zurcher Kantonalbank Zurich Cantonalbank Acquires 121,950 Shares of Omnicom Group Inc. (NYSE:OMC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Omnicom Group Inc. (NYSE:OMC) by 132.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 214,359 shares of the business services provider’s stock after purchasing an additional 121,950 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.11% of Omnicom Group worth $18,544,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Aviva PLC lifted its stake in shares of Omnicom Group by 406.1% in the 3rd quarter. Aviva PLC now owns 126,306 shares of the business services provider’s stock worth $9,407,000 after purchasing an additional 101,348 shares during the period. NBC Securities Inc. bought a new stake in Omnicom Group during the 3rd quarter worth approximately $200,000. Raymond James & Associates raised its stake in Omnicom Group by 3.3% during the 4th quarter. Raymond James & Associates now owns 433,144 shares of the business services provider’s stock worth $37,471,000 after acquiring an additional 13,709 shares during the period. Arvest Investments Inc. bought a new stake in Omnicom Group during the 4th quarter worth approximately $1,969,000. Finally, Sequoia Financial Advisors LLC raised its stake in Omnicom Group by 1,627.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock worth $5,752,000 after acquiring an additional 62,640 shares during the period. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 1.1 %

OMC stock opened at $91.48 on Friday. The firm has a fifty day moving average price of $91.35 and a 200 day moving average price of $85.18. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $99.23. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.86 and a current ratio of 0.95. The firm has a market cap of $18.04 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last posted its earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. Omnicom Group had a net margin of 9.96% and a return on equity of 38.83%. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4 billion. During the same period last year, the firm posted $2.09 earnings per share. Omnicom Group’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that Omnicom Group Inc. will post 7.73 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, March 11th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, March 8th. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

Analyst Ratings Changes

OMC has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $91.00 to $106.00 in a research note on Wednesday. Macquarie raised their target price on shares of Omnicom Group from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Moffett Nathanson increased their price objective on shares of Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays increased their price objective on shares of Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.40.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $86.66, for a total value of $43,936.62. Following the completion of the transaction, the director now directly owns 9,753 shares of the company’s stock, valued at $845,194.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.